Fully invested in secondary oils (100% long)
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
airedale - re. AIG, Your chart shows clearly that it has completed three waves down. The third wave matches the first wave. This could be an ABC correction, and it could be over! (just a thought)
Yeah jwg - finally getting some "fear"
Thanks frank, I needed that! Good luck with your UOPIX!
Maybe folks are selling bonds and buying stocks.
Yes, and qqq is rocketing higher after close, which sets us up for a "gap and run" manha!
If that was wave 2, and not wave 4, we are now 3/3/3 up!
ziggy - Are you long? I am thinking that the last wave down was too much to be a wave 4. If so, it could be a wave 2. How is that for bullish?
frank - 'Looks like you called that right... wave 5 up in progress now?
Market internals, tick/trin/pcr strong...
http://www.marketswing.com/realtime.htm
http://www.cboe.com/MktData/default.asp
Dow playing catch-up to Nas
Still holding qqq calls
F waves down, complete wave 4 on 5 min.(wave 3 up now)
If we count the intraday lows as a "double bottom" as they certainly appear on the SPX, then we are JUST BEGINNING WAVE 3 UP!
So far, so good. GNSS and INTC are outpacing the QQQ which confirms that this rally is for real!
peg - It's been costly to me too!
'Expecting rally for at least 2 or 3 days.
market internals improving...
higher tick, lower trin, etc...
NDX pushing back up through support/resistance 1390/1392
I think the bear party is over!
Dimension - Yes, you are right. I should have called it "bullish confirmation" instead of "bullish divergence"
Maybe it means that this is just a "bounce" with lower lows ahead.
Confirmation (by futures) now underway...
http://www.unitedfutures.com/quotes.htm
It also shows a "higher high" and (so far) to higher lows.
jwg - Lots of "bullish divergence" on that last one.
qqq made a higher low... (Rally time)
Still holding calls... IMO IT bottom is in.
Just added more qqq calls on successful retest of low.
OK JWG - Watching Carefully!
Bought qqq calls... it looks like support held after all.
jwg - So far, so good - Crude is topping.
-
IMO LOD is in! Crude up $1.46 (always darkest...
Crude Oil (CLQ4) Aug 04 39.50 40.90 39.20 40.90 +1.46
Crude up $1.06 - Oil stocks moving up...
Crude Oil (CLQ4) Aug 04 39.50 40.53 39.20 40.50 +1.06
Oil up on higher crude...
Crude Oil (CLQ4) Aug 04 39.50 40.50 39.20 40.25 +0.81 12:49
Yes Steve, and even Intel has not really gone down very much. I think the air has now cleared for a furious rally through opex. After that, it's anybody's guess. Maybe we will get the "Granville crash" after all.
July 14th is 2nd most bullish day of the year! (Jan 31st is the best)
Combine that with "blowout earnings" from INTC, and we could see a "MELT-UP" (at least that's my prediction)
On the other hand, our old friend Joseph Granville is predicting a "CRASH BACK DOWN TO THE 2003 LOWS!!!
Meanwhile Intel is consolidating for a big move one way or the other... (place your bets)
frank - I see it dipped below 1429 and then popped back obove it... is this a "headfake?"
frank - I see we drifted down to 1429.22 before this little rally began... 'sounds like a "successful test" (of support)
After the close tomorrow IMO
ie. price times daily trading volume.
cash - "dollar volume" = current price times volume.
cash - usually just in the money or whatever has the highest "dollar volume" (not volume).
qqq, but I don't have any now. (mostly calls on major oils, and some oil stocks)
cash - jwg buys "deep-in-the-money" puts and calls for very short-term trades. He as made several such trades so far today (all very successful). If his current trade does not pan out, I trust he will be stopped out with a very small loss.
Congrats also to jwg for some great day trades!